Greek owner and operator of dry bulk vessels Seanergy Maritime Holdings Corp. received a secondhand 179,238dwt Capesize bulk carrier, which has been renamed to M/V Championship.

The M/V Championship, which was built in 2011 by Sungdong SB, will be employed in the spot market.

Seanergy said it funded the acquisition cost of the bulker by a senior secured loan agreement with an international financial institution and by a funding arrangement with the company's sponsor.

M/V Championship is the last delivery of a series of seven secondhand dry bulk vessels that the company agreed to acquire in August 2015.

"In less than four months we managed to significantly increase our fleet size from one to eight vessels with a carrying capacity in excess of 1.1 million DWT. At the current depressed levels of the dry bulk market, we strongly believe that our fleet expansion represents a unique opportunity to participate in a market recovery," said Stamatis Tsantanis, the company's chairman and CEO.